Top Indian Insurance Industry News & Updates - 05 Jan 2024,Friday

🗎 Life Insurance

📝  Kotak Life aims at over 10% growth in individual premium for FY24
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🗎 General Insurance

TATA AIG rolls out ‘Expect the Expected’ campaign featuring Ranbir Kapoor and Rohit Shetty
TATA AIG General Insurance Company, unveils its brand campaign ‘Expect the Expected’ featuring brand ambassador Ranbir Kapoor and filmmaker Rohit Shetty. 
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🗎 Health Insurance

PayNearby and Star Health unite to offer health cover to uninsured and under-served across India. Details here
PayNearby and Star Health and Allied Insurance have recently formed a strategic collaboration aimed at enhancing the accessibility and affordability of health insurance coverage throughout the country, with a particular focus on the semi-urban and rural population. 
ICICI Lombard’s health plan tops Mint-Beshak ratings
New Delhi: Are you planning to buy a health insurance policy soon? If so, here is how you can choose the best policy from among the numerous offerings in the market currently. Check its ratings on Mint-Beshak.org, which has come out with an updated list of top health insurance plans available in the country. And, topping this list is ICICI Lombard Health AdvantEdge, an all-inclusive health plan.
9.3 lakh lives lost to cancer in India, urging the need for comprehensive health insurance
In 2019, India recorded approximately 1.2 million new cancer cases and 9,30,000 deaths, securing its position as the second-largest contributor to the disease burden in Asia for that year, as revealed in a recent study published in The Lancet Regional Health Southeast Asia journal.
Your health insurance has many variants: Here’s what you must know
Health insurance has long evolved beyond the base variant in order to better serve policyholder’s specific needs. If one invests time in parsing through the fifteen odd variants offered by the same insurer, one can find the right fit for health insurance. From serving low-cost entry-level insurance to specific disease fit, the variants hold the key for every need.
Why family floater health insurance is better than individual
Source Credit: The Times of India

In this hustling culture, health is the topmost priority of human beings. Individuals are aware that medical emergencies can not be overlooked in any way. The rising medical costs and top-notch health services are the very reasons why people prefer to invest in health insurance plans.

However, most people are not aware of either going with individual or family floater health insurance.

While individual health insurance offers defined medical coverage to an individual person, family floater health insurance can be used by an entire family.

Additionally, family floater health insurance schemes are more cost-effective than buying individual health schemes for every family member.

Let’s understand in detail why family floater health insurance is better than an individual medical insurance scheme.
 
📝  The importance of Consumable Covers in health insurance
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Insuretech

Mint Beshak Insurance Ratings
With numerous products, plan options, and all the complicated fine print, comparing and choosing health insurance can be quite a daunting task.
Hurdles and solutions: What self-employed should do to get term insurance

Hurdles for the self-employed
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🏦 SEBI

Govindayapalli Ram Mohan Rao takes charge as Sebi's executive director
Sebi on Thursday said Govindayapalli Ram Mohan Rao has taken charge as an executive director and will handle the departments of investigation and internal inspection. Earlier, Rao was the regional director of the eastern regional office of Sebi (Securities and Exchange Board of India). In that role, he had supervised diverse portfolios, including inspections, setting up of investor service centres, investor awareness, and redressal of grievances.
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🗎 Mutual Funds / AMCs

Jio Financial-BlackRock JV applies for mutual fund licence
The joint venture between Jio Financial Services and BlackRock has applied for a mutual fund licence with the market regulator, and the application is currently under consideration, according to a SEBI update. An update on mutual fund approval status from the Securities and Exchange Board of India (Sebi) as of December 31, 2023, lists Jio Financial Services & BlackRock Financial Management among the applicants under consideration for a mutual fund licence.
Jio Fin debuts as large-cap in AMFI stock classification
Mumbai: The unprecedented rally in the equity market in last six months has pushed up the threshold of large-cap stock classification of mutual funds by 37 per cent to ₹67,000 crore against ₹49,700 crore logged in last June.
Flows may gravitate to large caps this year, says Ashish Gupta of Axis Mutual Fund
Mumbai: Flows from FPIs could continue this year given the strong domestic economic growth, expectations of political continuity at the Centre, controlled inflation and robust corporate earnings, says Ashish Gupta, CIO, Axis Mutual Fund.

Excerpts: 
Best focused mutual funds to invest in 2024
Many mutual fund investors believe that a concentrated portfolio would help them to earn better returns. They believe many mutual fund schemes offer average returns because they have an extremely large diversified portfolio. Such investors may consider investing in focused mutual fund schemes.
IVCA seeks more time for lenders to comply with Sebi's AIF rules

Mumbai: The Indian Venture and Alternate Capital Association (IVCA) has sought an extension of the deadline to six months for lenders that must mandatorily liquidate investments in Alternative Investment Funds (AIFs) linked to a debtor company, or furnish 100% of their exposure if unable to do so. The original one-month deadline, mandated by the RBI, expires on January 18.
Top gilt funds offer over 7% in 2023; ICICI Prudential Gilt Fund offers 8.26%

Gilt funds have offered an average return of around 6.79% in 2023, an annual performance review of the category by ETMutualFunds showed. There were around 21 schemes in the gilt fund category. Top nine schemes have offered over 7% in 2023.
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🗎 Equities, Pvt. Equity / Hedge Funds

Chrys Cap, Kedaara prepare their biggest funds ever
Homegrown private equity (PE) firms ChrysCapital and Kedaara Capital are raising billion-dollar-plus funds in 2024, as they look to cut bigger cheques and fend off competition from Asian and global rivals.
📝  Women strive to break private equity glass ceiling
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🗎 Govt Securities / Bonds

Stars align for India bonds after first yearly gain since 2020
Indian sovereign bonds, coming off the best annual performance in three years, are poised for further gains on expectations that their upcoming inclusion in a global bond index will lure big foreign inflows.
Adani Ports to tap bond market for first time in more than two years - bankers
India's largest private port operator Adani Ports and Special Economic Zone plans to raise funds totalling 5 billion rupees ($60.08 million) through two bonds, one maturing in five years and the other in 10 years, three bankers said on Thursday.
SBI raises $250 million through green bonds maturing in 2028

State Bank of India, the country’s largest lender, has raised $250 million through the issuance of green bonds via private placement facilitated through its London branch.
Adani Ports plans to raise up to Rs 500 cr through NCDs

Adani Ports and Special Economic Zone (APSEZ) is looking to raise up to Rs 500 crore through the issuance of two sets of non-convertible debentures (NCDs) next week, market sources said.
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✈ International News

US Treasury yields sway higher following better-than-expected jobs data
US Treasury yields continued trudging higher Thursday after economic data that suggested the U.S. labor market remains strong.
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